In a report, use the sample information to 1. Calculate and interpret the probability that temperature goes

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In a report, use the sample information to

1. Calculate and interpret the probability that temperature goes (a) below 2°C and (b) above 8°C using a normal distribution approximation.

2. Calculate the probability that temperature goes (a) below 2°C and (b) above 8°C using a log normal distribution approximation.

3. Compare the results from the two distributions used in the analysis.


A variety of packaging solutions exist for products that must be kept within a specific temperature range. A cold chain distribution is a temperature-controlled supply chain. An unbroken cold chain is an uninterrupted series of storage and distribution activities that maintain a given temperature range. Cold chains are particularly useful in the food and pharmaceutical industries. A common suggested temperature range for a cold chain distribution in pharmaceutical industries is between 2 and 8 degrees Celsius. 

Gopal Vasudeva works in the packaging branch of Merck & Co. He is in charge of analyzing a new package that the company has developed. With repeated trials, Gopal has determined that the mean temperature that this package is able to maintain during its use is 5.6°C with a standard deviation of 1.2°C. He is not sure if the distribution of temperature is symmetric or skewed to the right.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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